CMC Invest launches SIPP, with no plan fees to pay for up to 12 months*
CMC Invest aims to demystify fees by offering a flat fee structure on all investment plans, with nothing to pay for 12 months on the Premium plan*. Customers transferring their assets can receive up to £1,000 in cashback*.
London, UK – 4 April 2024 – CMC Invest, a UK investment platform, launched its flat fee Self-invested Personal Pension (SIPP), in partnership with Quai Investment Services, as part of its new Premium plan.
A recent survey conducted by CMC Invest of 2,000 investors with £10,000+ in investable assets, found that, of those who had a pension, one-third of investors (33%) and nearly half (44%) of female investors are not aware of the fees charged on their pensions.
Recognising that investment fees can be confusing and eat into overall returns, CMC Invest’s plan is available on a flat fee structure.
The investment platform is looking to give all customers a head start by waiving the first 12 months of fees for the Premium plan*, which includes the SIPP, to all investors. Investors can also receive up to £1,000 cashback* when transferring their SIPP, ISA and GIA to CMC Invest.
SIPPs provide all the tax benefits of other pension plans but allow customers to take control by selecting their own investments. Customers can also take advantage of CMC Invest’s wholly digital, in-app transfer process to seamlessly transfer any existing pensions into the SIPP.
In addition to a SIPP, customers who switch to the new Premium plan will have access to a General Investment Account, Flexible Stocks & Shares ISA and over 4,500 assets, including shares, ETFs and Mutual Funds.
The Premium plan also includes:
No hidden fees:
On top of 12 months free* to investors CMC Invest offers £0 commission on all trades and 0.5% FX fee (other charges may apply).
Flexibility on pension drawdowns:
Unlike many pension providers, CMC Invest offers the full range of drawdown options. Investors will be able to take as much, or as little, of their tax-free lump sum as they want.
Multi-currency wallets:
Customers on the Premium plan gain access to multi-currency wallets (available in GIA only) in GBP, USD, and EUR, providing the added advantage of saving on foreign exchange fees.
David Dyke, Head of CMC Invest, says: “Navigating the world of pension and investment fees can be challenging and it’s natural for customers to sometimes feel overwhelmed. That’s why CMC Invest’s Premium plan is being offered with a flat fee structure.
Regardless of your portfolio size, or how many trades you make, you’ll pay the same monthly fee. It’s easy to understand and hopefully avoids the need for laborious mental arithmetic just to figure out the cost of having a SIPP.
Additionally, to give our customers – both existing and new – a head-start, we’re waiving Premium plan fees for the first 12 months*. Zero. Zilch. Nada. And we don’t have any exit fees – so right now it’s free to check us out and free if you want to leave.”
*T&Cs apply. Transfer bonus offer runs until the 5 May 2024. For more information, please see https://www.cmcinvest.com/en-gb/transfer
When you invest, your capital is at risk.
CMC Invest is not a pensions operator or administrator, nor does it provide investment advice. Individual investors should make their own decisions or seek independent financial advice.
Quai Investment Services Limited acts as a pensions operator and administrator and is authorised and regulated by the Financial Conduct Authority – Firm Reference Number 922590. Registered in England No 09919243, VAT No 401610949. The Registered Office for Quai Investment Services Limited is Unit 16 Tesla Court, Innovation Way, Peterborough, PE2 6FL.
CMC Invest is a trading name of CMC Markets Investments Ltd, which is authorised and regulated by the Financial Conduct Authority, registration number: 948126. Registered in England and Wales. Company number: 12816952.
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About CMC Invest
CMC Invest UK brings its global experience, trusted heritage, and disruptive culture to its customers – so that they can benefit from lower costs and greater long-term value in their investments.
The CMC Group was founded in 1989 in London, UK, giving it over three decades of financial markets experience. CMC services clients from around the world with offices in 16 countries. The company is listed on the London Stock Exchange and is the second largest stockbroker in Australia where they have won the prestigious Canstar award for Best Online Broker for 12 years in a row.
For more information please visit - https://www.cmcinvest.com/en-gb/
Contact
For all media enquiries, please email: press@cmcinvest.com
